Building Details

Year built 1820

Listing Agency: Sanford, Maine · Better Homes and Gardens Real Estate i***@Masiello.com Show Phone

Listed By: John Caramihalis Show Phone

Added: Oct 27 Changed: Oct 28 Last Checked: Oct 28 at 10:06AM

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MLS# 1685832

Copyright © 2026 Better Homes and Gardens-The Masiello Group. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This two-unit residential property in Alfred Village contains 2,337 square feet and dates to 1820. Recent upgrades have been made, and the property includes an in-town backyard with space for outdoor use.

At 15 Waterboro Road, the property offers access to major travel routes. Its two-unit configuration supports owner occupancy, rental use, or accommodation for extended family.

Key Highlights

• Two‑unit duplex with 2,337 square feet
• Built in 1820
• Recent upgrades

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,561

Cap Rate

7.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$791,220 $791.2K

Cap Rate 7%

$565,157 $565.2K

Cap Rate 9%

$439,567 $439.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,337 SF

Gross rent

$59.5K $25.44/SF

− Vacancy

−$2.9K −$1.26/SF

EGI

$56.5K $24.18/SF

− OpEx

−$17.0K −$7.25/SF

NOI

$39.6K $16.93/SF

Area

York County, ME

Vacancy

4.94%

Lease Rate

$25.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$791,220

Cap Rate 7%

$565,157

Cap Rate 9%

$439,567

Alternative Uses

Best Use

Multifamily LT 5

$565.2K

$494.5K – $659.4K (±1% cap)

NOI $39,561 @ 7.0% cap · market cap 7.19%

Second Best

Apartment 5plus

$516.0K

$451.5K – $602.0K (±1% cap)

NOI $36,117 @ 7.0% cap · market cap 6.57%

Theoretical Best

Office A

$740.8K

$648.2K – $864.3K (±1% cap)

NOI $51,857 @ 7.0% cap · market cap 9.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

67

Businesses Nearby

Explore this area Business Placement

Demographics for 04002, ME

7,589

Population

3,684

Households

2.1

Avg Household Size

48

Median Age

23%

College-Educated

93%

High-School Grad

66.3 sq mi

ZIP Area

114

Density / Sq Mi

$77,853

Median Household Income

$40,201

Median Earnings

$784

Median Rent

$321,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two separate units offer flexibility for rental use, extended family, or owner occupancy.

Where is this duplex located?

The property is located at 15 Waterboro Road Alfred, ME.

What is the asking price?

The asking price for this property is $549,900.

What are key features of this property?

This property features: Two‑unit duplex with 2,337 square feet; Built in 1820; Recent upgrades